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Callinex Mines Acquires the Headway Deposit Adjacent to the Brunswick No 12 Mine
VANCOUVER, Nov. 14, 2018 /CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSXV: CNX) (OTCQX: CLLXF) is pleased to announce that it has acquired the He
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":" VANCOUVER, Nov. 14, 2018 /CNW/ - Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSXV: CNX) (OTCQX: CLLXF) is pleased to announce that it has acquired the Headway Project (the \"Project\"), which hosts the high-grade Headway Deposit, located adjacent to the world-class Brunswick No 12 Mine in the Bathurst Mining District of New Brunswick (See Figures 1,2 and 3). The Project contains a high-grade zinc-lead-copper-silver deposit located along the prolific 'Brunswick Horizon' where limited historic near-surface drilling delineated the deposit to a depth of 160m. The Project shares a property boundary and similar geology with Glencore's Brunswick No 12 mine, previously the world's largest underground zinc mine, where production totaled 137 million tons grading 8.74% Zn, 3.44% Pb, 0.37% Cu, and 102 g/t Ag from 1964-2013. Max Porterfield, President and CEO stated, \"This acquisition, completed at attractive terms as a result of current market conditions, fits well with our existing project portfolio in the Bathurst Mining District. The high-grade Headway deposit is a compelling exploration opportunity considering its very limited exploration history, proximity to the world-class Brunswick No 12 Mine and its strategic location within potential trucking distance to the Nash Creek Project.\" The Headway Deposit was outlined by 35 drill holes from 1965-66 and is reported to be 950m long, 160m deep and up to 15m thick. In assessment report 472314 prepared by Headway Red Lake Gold Ltd. in 1966, a historical \"ore reserves\" of 263,100 tonnes grading 11.6% Zn Eq. (6.2% Zn, 2.1% Pb, 1.4% Cu and 20.9 g/t Ag) between the A and B zones while the C zone reported 54,000 tonnes grading 7.0% Zn Eq. (3.9% Zn, 1.3% Pb, 0.8% Cu and 14. g/t Ag). The historical \"ore reserves\" noted above is mentioned for historical purposes only and uses categories not consist with the definitions of \"resources\" and \"reserves\" as set forth by CIM. The reliability of this historical estimate is unknown but considered relevant by the Company as it represents a significant target for future exploration work by the Company. The assumption, parameters and methods used to calculate this historical resource estimate are not known to the Company. The qualified person has not made any attempt to re-classify the estimates accordingly to current CIM st...